Notice Information
Notice Title
East Wick and Sweetwater - Modifications to Development Agreement
Notice Description
Modifications to a Development Agreement for the development of the site known as East Wick and Sweetwater in the Queen Elizabeth Olympic Park.
Lot Information
Lot 1
London Legacy Development Corporation (LLDC) entered into a Development Agreement (DA) with East Wick and Sweetwater Projects (Holdings) Limited on 27 February 2015 for the development of the site known as East Wick and Sweetwater in the Queen Elizabeth Olympic Park, Stratford, London. The DA was varied by a supplemental agreement and deed of variation dated 14 July 2016, a deed of variation dated 26 July 2016, a deed of variation dated 15 December 2017 and a deed of variation dated 21 December 2018. The parties have entered into a further deed of variation and ancillary documents to amend the DA to incorporate various modifications including the following: (i) Reduction in share of returns payable to LLDC; (ii) A private unit by private unit overage provision for further payments to LLDC above the fixed returns for sales of private units; (iii) Simplifications to the arrangements governing LLDC's share of Private Rental Sector revenues whereby 16% of the Private Rental Sector units in Phases 2-7 are owned outright by LLDC; (iv) Modifications to termination payments to cover costs incurred; (v) Introduction of tighter development milestones requiring specified delivery by the Contractor in respect of each of the phases; (vi) "Golden Brick" arrangements in respect of blocks containing 100% affordable housing units or 100% private rented units; and (vii) the removal of Phase 6 from the DA. LLDC considers that the modifications have been brought about by circumstances which a diligent contracting authority could not have foreseen, they do not change the overall nature of the contract and the price has not increased by more than 50% of the value of the original contract. The modifications have been brought about as a result, inter alia, of adverse market conditions which have been caused in part and exacerbated by the COVID-19 pandemic. LLDC therefore considers that Regulation 72(1)(c) of the Public Contracts Regulations 2015 applies. Furthermore, LLDC considers that the modifications are not "substantial" for the purposes of Regulations 72(1)(e) and (8). The modifications do not render the contract materially different in character from either the original DA or the immediately preceding version. Whilst some of the modifications when considered alone are in the Contractor's favour, LLDC has sought to counterbalance this with modifications in its own favour, so that the effect on the overall economic balance is neutral. LLDC therefore considers that Regulation 72(1)(e) also applies. As a result, LLDC considers that the modifications may be made without a new procurement procedure.
Procurement Information
See explanation at Section II.2.4.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-037466
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/028421-2022
- Current Stage
- Award
- All Stages
- Award
Procurement Classification
- Notice Type
- Award Notice
- Procurement Type
- Standard
- Procurement Category
- Works
- Procurement Method
- Limited
- Procurement Method Details
- Award procedure without prior publication of a call for competition
- Tender Suitability
- Not specified
- Awardee Scale
- Large
Common Procurement Vocabulary (CPV)
- CPV Divisions
45 - Construction work
-
- CPV Codes
45000000 - Construction work
45211000 - Construction work for multi-dwelling buildings and individual houses
Notice Value(s)
- Tender Value
- Not specified
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- £800,000,000 £100M-£1B
Notice Dates
- Publication Date
- 10 Oct 20223 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- Not specified
- Award Date
- 6 Oct 20223 years ago
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Cancelled
- Awards Status
- Active
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- LONDON LEGACY DEVELOPMENT CORPORATION
- Contact Name
- Available with D3 Tenders Premium →
- Contact Email
- Available with D3 Tenders Premium →
- Contact Phone
- Available with D3 Tenders Premium →
Buyer Location
- Locality
- LONDON
- Postcode
- E20 1JN
- Post Town
- East London
- Country
- England
-
- Major Region (ITL 1)
- TLI London
- Basic Region (ITL 2)
- TLI4 Inner London - East
- Small Region (ITL 3)
- TLI41 Hackney and Newham
- Delivery Location
- TLI London
-
- Local Authority
- Newham
- Electoral Ward
- Stratford Olympic Park
- Westminster Constituency
- Stratford and Bow
Further Information
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.
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